Locating while drilling systems and methods are disclosed. Some method embodiments include drilling a borehole with a bottom-hole assembly (BHA attached to a drill bit, pausing the drilling to determine a survey position of the bit, obtaining measurements with BHA sensors while drilling, processing the BHA sensor measurements with a model while drilling to track a current position of the bit relative to the survey position, the model accounting for deformation of the BHA, and steering the BHA based on the current position of the bit.